The rapid technological developments in Southeast Asia have led to great demands for Internet of Things (IoT) technologies, according to a recent survey from Asia IoT Business Platform.
The survey indicates that more than 70% of local enterprises and organizations are currently in the process of exploring or finding possible IoT solutions to be deployed or implemented. However, only 7% of them report benefitting from any IoT implementation.
Enterprises and organizations cite cost, legacy systems, and complexity as the top three concerns in adopting IoT.
Following the great interest in IoT technologies but low benefits from implementation, Irza Suprapto, director at Asia IoT Business Platform, noted that it is now important to understand the challenges that enterprises face in trying to deploy IoT in their businesses.
"The challenges that enterprises face in implementing IoT will determine how they view the benefits of IoT implementation and in turn, affects the demand for IoT technologies. Therefore, this year, we are inviting IT leaders of local enterprises and organizations to share more about their IoT projects or their digital transformation vision, as well as the challenges that they face in deploying IoT. This is to ensure that their concerns and challenges will be addressed and IoT adoption rates in the region will continue to grow, instead of being stunted," Irza added.
The Asia IoT Business Platform series will be returning to Southeast Asia for the fourth consecutive year. The programs, which are organized by Industry Platform Pte. Ltd, will take place in major cities across the region, including in Bangkok, Kuala Lumpur, Manila, and Jakarta, in July and August.
The programs will continue to facilitate the digital transformation of enterprises and organizations in Southeast Asia. It will also have an additional focus on addressing challenges and issues that organizations face in adopting and implementing IoT technologies.
The prestigious programs will involve government officials, senior business leaders in the IoT and Machine-to-Machine (M2M) sectors, as well as local enterprises that are looking to explore business growth and improved business efficiency with IoT.
"We are excited to return to major cities in ASEAN this year, after many successful editions in the past couple of years. Since 2014, we have seen business partnerships among stakeholders being forged to drive the IoT adoption growth in the region. IoT developments are also apparent, especially in the different smart city initiatives, and the different IoT projects implemented by local enterprises. We are glad to witness these promising developments," said Suprapto.
The Asia IoT Business Platform series across ASEAN will feature a line-up of esteemed speakers comprising IT leaders from local enterprises such as Sampoerna Strategic (Indonesia), Garuda Indonesia, Bank of Thailand , Charoen Pokphand (Thailand), Petronas (Malaysia), Tenaga Nasional Berhad (Malaysia), Philippine Ports Authority, Metro Cebu Development and Coordinating Board